Automated lettings and management platform teclet – which is owned by OnTheMarket – has completed another integration with a PropTech supplier.

This is with LettsPay, a client accounting service, which describes itself as being an end to end rent management and other payments platform, with payments facilitated by standing order, direct debit or merchant services.

LettsPay is registered weith the Financial Conduct Authority allowing it to assign every client a dedicated client account wallet. “This resolves all client account and banking compliance requirements which have been causing many agents considerableheadaches with undesignated client accounts” claims LettsPay. 

Garrett Foxon, managing director of LettsPay, says: “We are delighted to have fully integrated with teclet and to have created a true end to end solution in a fully compliant and automated set up. This provides a huge, cost effective, benefit for letting agents, property managers and accounts teams as well as providing landlords and tenants with quicker, safer and more transparent processing.”

And teclet chief executive Alan Blockley adds: “The benefits from using teclet and LettsPay will be clear to anyone currently processing rents and payments either manually or via software that does not have the integration benefits we have created. The processing is also completely compliant with current regulations and provides individual client account wallets which many agents are finding that their banks are requiring and will, in the near future, be a mandatory requirement on everyone.”